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The Board’s Sights Set on PREPA
The federal entity warns that a general restructuring of the obligations is only achievable in court
Archival note
This content was published more than 7 years ago.
The federal entity warns that a general restructuring of the obligations is only achievable in court
WASHINGTON – For the Oversight Board (OB) to be able to execute a general restructuring of the Puerto Rico Electric Power Authority’s (PREPA) obligations, including the rates and the plan to reduce service costs, their only recourse would be Title III of PROMESA, which established the judicial bankruptcy mechanism.
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